Commonwealth Equity Services LLC Sells 20,014 Shares of GE Aerospace $GE

Commonwealth Equity Services LLC decreased its holdings in shares of GE Aerospace (NYSE:GE) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 351,935 shares of the company’s stock after selling 20,014 shares during the period. Commonwealth Equity Services LLC’s holdings in GE Aerospace were worth $109,906,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Collaborative Fund Advisors LLC lifted its holdings in shares of GE Aerospace by 13.8% in the third quarter. Collaborative Fund Advisors LLC now owns 1,882 shares of the company’s stock valued at $588,000 after purchasing an additional 228 shares in the last quarter. Bfsg LLC boosted its position in shares of GE Aerospace by 5.8% during the third quarter. Bfsg LLC now owns 752 shares of the company’s stock valued at $235,000 after buying an additional 41 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in GE Aerospace by 1.5% during the third quarter. Chicago Partners Investment Group LLC now owns 25,641 shares of the company’s stock worth $7,324,000 after buying an additional 383 shares in the last quarter. Caldwell Trust Co grew its holdings in GE Aerospace by 5.6% during the third quarter. Caldwell Trust Co now owns 6,398 shares of the company’s stock worth $1,998,000 after buying an additional 341 shares in the last quarter. Finally, JCIC Asset Management Inc. raised its position in GE Aerospace by 2.3% in the 3rd quarter. JCIC Asset Management Inc. now owns 12,168 shares of the company’s stock valued at $3,800,000 after buying an additional 270 shares during the last quarter. 74.77% of the stock is owned by institutional investors.

GE Aerospace Stock Up 2.8%

GE stock opened at $323.54 on Friday. The stock’s fifty day simple moving average is $314.70 and its two-hundred day simple moving average is $323.12. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. GE Aerospace has a 1-year low of $268.91 and a 1-year high of $388.84. The stock has a market cap of $334.33 billion, a P/E ratio of 37.32, a P/E/G ratio of 2.15 and a beta of 1.43.

GE Aerospace (NYSE:GE) last announced its earnings results on Tuesday, October 20th. The company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.24. GE Aerospace had a return on equity of 44.43% and a net margin of 17.31%. The firm had revenue of $13.29 billion during the quarter, compared to analyst estimates of $12.88 billion. During the same period last year, the firm posted $1.66 EPS. The business’s revenue was up 24.7% compared to the same quarter last year. Analysts expect that GE Aerospace will post 8.16 EPS for the current year.

GE Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Investors of record on Monday, October 5th were given a dividend of $0.47 per share. The ex-dividend date was Monday, October 5th. This represents a $1.88 annualized dividend and a yield of 0.6%. GE Aerospace’s dividend payout ratio is presently 21.68%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GE. UBS Group restated a “buy” rating and set a $380.00 price objective (up from $377.00) on shares of GE Aerospace in a research note on Wednesday, October 21st. Sanford C. Bernstein set a $376.00 target price on shares of GE Aerospace in a research note on Friday, October 23rd. TD Cowen reiterated a “buy” rating and issued a $380.00 target price (up from $330.00) on shares of GE Aerospace in a report on Monday, July 13th. Susquehanna dropped their price target on shares of GE Aerospace from $430.00 to $400.00 and set a “positive” rating on the stock in a research report on Wednesday, October 21st. Finally, Vertical Research restated a “buy” rating and set a $400.00 price target on shares of GE Aerospace in a report on Tuesday, October 20th. Sixteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $373.45.

Insider Transactions at GE Aerospace

In related news, VP Robert Giglietti sold 14,796 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $332.54, for a total transaction of $4,920,261.84. Following the completion of the sale, the vice president owned 20,201 shares in the company, valued at approximately $6,717,640.54. This trade represents a 42.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Key Stories Impacting GE Aerospace

Here are the key news stories impacting GE Aerospace this week:

• Positive Sentiment: GE Aerospace partnered with BETA Technologies on a hybrid-electric aircraft demonstration, marking progress in a new propulsion technology area. GE Aerospace partners with BETA Technologies
• Positive Sentiment: GE is part of a team working on KC-135 modernization, adding a defense-program opportunity alongside its commercial aerospace business. SNC teams with BAE, Collins and GE for KC-135 modernization
• Neutral Sentiment: Analyst coverage highlighted GE’s roughly $170 billion services backlog and generally favorable ratings, but also questioned whether the stock’s valuation already reflects much of its growth potential. GE Aerospace backlog and valuation analysis
• Negative Sentiment: Vice President Robert Giglietti sold 14,796 shares, cutting his reported stake by about 42%. Insider sales can have many explanations, but may contribute to investor caution. GE Aerospace VP sells shares
• Negative Sentiment: ETFs were reported as net sellers of GE shares, a sign of near-term fund outflows that could weigh on sentiment. ETFs are net sellers of General Electric

GE Aerospace Company Profile

GE Aerospace (NYSE: GE) designs, manufactures and services engines and related systems for commercial and military aircraft. Its offerings include aircraft engines, components, avionics and other integrated systems, along with maintenance, repair and overhaul services and digital solutions that support aircraft operations.

The company serves airlines, aircraft manufacturers, governments and defense organizations around the world. Its business combines original equipment production with long-term aftermarket support, including parts and technical services for engines already in operation.

GE Aerospace traces its roots to General Electric’s aviation business, which developed over more than a century.